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Optimal replacement : an extension to consumer durables (August 1974)

Author: Terasawa, Katsuaki.;Whipple, David Richard, 1942-
Publisher: Monterey, California : Naval Postgraduate School
Language: en_US
Call number: ocn428095000
Digitizing sponsor: Naval Postgraduate School, Dudley Knox Library
Book contributor: Naval Postgraduate School, Dudley Knox Library
Collection: navalpostgraduateschoollibrary; fedlink; americana
Notes: No copyright page found. No table-of-contents pages found.

Full catalog record: MARCXML

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Title from cover

"Prepared for: Naval Postgraduate School"--Cover

"August 1974"--Cover


Author(s) subject terms: Optimal replacement, consumer durables, house

Includes bibliographical references (p. 29)

Technical report; 1974

The problem of determining the optimal procedure for the replacement of capital or military equipment has been the subject of numerous studies. However, having been conceived and developed in conjunction with investment and inventory, the study of optimal replacement has never been effectively extended to the area of consumer durable goods. The primary objective of this paper is to study such a problem within the inter-temporal utility maximization framework in which a consumer has a finite, fixed time horizon and derives satisfaction from the consumption of both durable and non-durable goods. In particular, family housing is used to illustrate the choice process

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Format_extent: 31 p. : ill. ; 28 cm.
Identifier_oclc: ocn428095000
Type: Technical Report
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